NEW DELHI: The Reserve Bank of India is presently examining whether there’s a requirement to bring some change in the fiscal policy framework and that, if needed, it is going to speak with the authorities, Governor Shaktikanta Das said on Saturday.
“The fiscal policy framework is currently in operation for the previous 3 decades. We’re reviewing and reviewing it as to the way the MPC frame has functioned. At a suitable time, if needed, we will have talk with the authorities,” stated the RBI governor in a media conference later he met with the Finance Minister about the habitual Budget briefing.
“In the present time it (the frame ) is under review contained in RBI,” he explained.
On February 6, the six-member Monetary Policy Committee (MPC) led by Das, for its next assembly in a row, held repo rate unchanged in 5. 15 percent but claimed the accommodative policy position, which suggests that it was biased in favor of cutting speed to boost expansion.
Currently, the Monetary Policy Committee meets every 2 weeks to talk about the economy.